WASHINGTON, D.C. – The Government Accountability Office (GAO) today recommended that better monitoring and reporting requirements are needed to protect pension plans covering 10.4 million current and future retirees participating in multiemployer plans.
“Congress and the Obama administration must work together to address the significant problems GAO raised in order to protect retirees and the nation’s taxpayers,” said U.S. Rep. George Miller (D-Calif.), chair of the House Education and Labor Committee. “With millions of families’ retirement security dependent on these plans, it is vital that federal agencies have timely information to assess the health of multiemployer plans.”
“Congress and the Obama administration must work together to address the significant problems GAO raised in order to protect retirees and the nation’s taxpayers,” said U.S. Rep. George Miller (D-Calif.), chair of the House Education and Labor Committee. “With millions of families’ retirement security dependent on these plans, it is vital that federal agencies have timely information to assess the health of multiemployer plans.”